Dec 5, 2012 4:00am PST
highest level in nearly 15 years. this is according to a new report from the energy information administration. daily production, daily output, averaged almost 6.5 million barrels per day in september, the highest level of oil output in the u.s. since 1998. eia says the increase is mostly due to the extraction process known as fracking, new technology to get oil in every nook and cranny. some coined a phrase saudi america for america's projected energy boom over the next decade. a report from last month from the international energy watchdog says the u.s. could unseat saudi arabia as the world's top oil producer by the year 2020. >>> quick market check this morning, u.s. stock futures are up, fiscal cliff uncertainty could continue to weigh on stocks until it's resolved. we're getting a lot of economic news this week with the jobs report on friday. so i expect to see hurricane sandy was at play in there. >> figuring into that report. looking forward to that. >>> first it was republicans throwing the president's fiscal cliff plan right back at him. now it's the president's turn.
Dec 4, 2012 4:00am PST
advantage is in this huge game change you've got in energy policy to see that economy really take its proper place again. and if that happens, i think that will also, by the way, have an impact on say the eurozone, which is still very, very fragile. >> all the ifs in there. you have written an article, a special to cnn called be bold to escape the economic crisis. that's the headline there. what is the lesson? i mean i think often the big superpowers don't necessarily look to africa, for example, for good lessons on how to strategize. many of those countries, those emerging economies are doing, are growing, at a rate faster than the united states, and favser than many others. >> yes, they're moving ahead very fast as economies. but i think for us efficiently, if you take europe they've got to take some really big decisions now, and as it were, sort out the short-term issues to do with the single currency crisis, and then make the long-term reforms that we're all going to have to make. i mean, your fiscal cliff -- some of the issues there, around entitlements and welfare and reform, they've g
Dec 6, 2012 4:00am PST
? this is big news. what are you waiting for? one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> for the first time in a week president obama and speaker boehner talked about the fiscal cliff. it was by phone. both sides agreed that they would not talk about the details. what we do know is that it has not led yet to any major breakthroughs. we want to get to congressman steve latourette, republican from the state of ohio. he is leaving congress, decided not to run for re-election, citing gridlock as a big reason why. we appreciate your time with us this morning. >> thank you. >> can we start with syria first before we get to the fiscal cliff? we know that there's this red line that hillary clinton has talked abo
Nov 30, 2012 4:00am PST
makes us boom for 0 years. we don't have that. energy is great we have a lot of good things and there are things that can help us. it's hard to predict. we can product if that doesn't happen, growth of entitlements just gets worse and worse and something has to give. >> so here you are, you know, perched as professor in beautiful cambridge, massachusetts -- >> it's dark at the moment. >> because of the power outages. nonetheless you're watching this dance, we were just talking to congressman hoyer and he himself said let's get real. there are very real consequences here. we looked at the gdp position yesterday, third quarter was better than anticipated, housing has been up as christine's reported. so those are all great signs thus far but if this thing doesn't work out, it's frightening. >> that's exactly right. i mean it's already hurting the fourth quarter number, and it's going to look worse. businesses don't know what's going to happen. if you were thinking of doing an investment, why would you do it now until you see what's going to happen? there seems like so much posi